Sudden fluctuations in exchange rates! Unreasonable exchange rate charges! Unnecessary administrative charges! Does all this sound familiar to you? At Phillip Futures, we strive to give you the best exchange rates for currency conversions. Sign up for FX Invest today to ensure your business profit will be protected with our competitive exchange rate.

Scenario 1: Paying in a Foreign Currency

Company A converts with FX Invest
Company A purchases USD200,000 worth of inventories overseas. Understanding FX Invest provides more competitive rates; Company A uses FX Invest for conversions. Company A managed to convert at rate of 1.5675, buying USD200,000 with SGD313,500.

Company B converts with XYZ bank
Company B purchases USD200,000 worth of inventories overseas. Going by the conventional way, Company B approaches bank XYZ which quotes exchange rates of 1.5735 for USD/SGD. Company B bought USD200,000 with SGD314,700.

Summary of Scenario Analysis

Company A has gained a competitive advantage over Company B as it used only SGD313,500 to purchase the same goods that Company B paid with SGD314,700. Thus deriving a SGD1,200 worth of gain solely from exchange rates itself.

Scenario 2: Receiving a Foreign Currency

Company A converts with FX Invest
After processing the inventories, Company A exports its products to Europe, at €250,000. Company A converts the €250,000 with FX Invest, at an exchange rate EUR/SGD of 2.0098, receiving SGD502,450.

Company B converts with XYZ bank
Similarly, Company B exports it products to Europe, at €250,000. With the €250,000, Company B converts it back to SGD with the bank at an exchange rate EUR/SGD of 2.0033, receiving SGD500,825.

Scenario Analysis

By just getting a more competitive exchange rate via FX Invest, Company A has protected SGD1,625 of profits as compared to company B.

*Exchange rates are for illustrations only, and may varies from bank to bank.